Archer Aviation Inc. (ACHR) closed at $9.45 in the latest trading session, marking a +1.94% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.51%. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.28%.
Heading into today, shares of the company had lost 3.13% over the past month, lagging the Aerospace sector's gain of 3.19% and the S&P 500's gain of 2.87% in that time.
The upcoming earnings release of Archer Aviation Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.24, showcasing a 17.24% upward movement from the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Archer Aviation Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.22% increase. Archer Aviation Inc. is currently a Zacks Rank #2 (Buy).
The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 163, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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